Tech recruitments catch up pace in US

SAN FRANCISCO: Over the last three months U.S. companies hired more IT employees than they laid off despite the still-weak demand for high-tech goods and services, suggesting a turnaround in business investment may have begun, a report released on Wednesday said.

Additionally, job prospects for IT workers are improving, with IT managers predicting they will need to hire an additional 1.2 million workers in coming months, according to the report by the Information Technology Association of America industry group.

About 844,000 technology workers lost jobs between October 2001 and October 2002, compared with about 2.6 million who were dismissed between January 2001 and January 2002, the industry group said. U.S. companies hired 359,000 IT workers over the last three months, while dismissing 211,000, bringing the total U.S. IT work force to 10.1 million, compared with about 9.9 million in January, the report said.

"We're hopeful it represents a turnaround and that people are starting to invest again in information technology," Bob Cohen, a senior vice president with the trade group, told Reuters.

"Commerce Department statistics last month showed more spending on hardware, software and information technology systems, and as companies start to make those investments, they need people in place to build the (IT) systems," Cohen said. The Commerce Department last month said U.S. gross domestic product grew at a 4-percent annual rate in the third quarter, boosted in part by increased investment in equipment and software.

© Reuters